The company expects axi-cel to be approved as a treatment to fight aggressive non-Hodgkin lymphoma. Kite’s biggest, most advanced offering is a CAR T therapy called axicabtagene ciloleucel, or axi-cel. We are greatly impressed with the Kite team and what they have accomplished, and share their belief that cell therapy will be the cornerstone of treating cancer.” “The field of cell therapy has advanced very quickly, to the point where the science and technology have opened a clear path toward a potential cure for patients. “The acquisition of Kite establishes Gilead as a leader in cellular therapy and provides a foundation from which to drive continued innovation for people with advanced cancers,” Gilead President and CEO John F. However, the Kite acquisition won’t become neutral in terms of earnings until the third year of the deal, according to Gilead. Gilead made it clear in its official announcement that the Kite purchase is designed to diversify its drug offerings. Shares of Kite reached a new all-time high on Monday, and the company’s shares have already traded hands more than eight times its average volume. Kite and Gilead’s board of directors both unanimously approved the deal, which will reportedly close in the fourth quarter. Gilead’s $180 a share purchase marks a 29% premium from Kite’s Friday close. Gilead is set to pay roughly $11.9 billion in an all-cash deal to acquire Kite and its innovative cancer drug, which aims to make the patient's own immune cells fight-off cancerous tumors. Shares of cancer treatment drug maker Kite Pharma KITE soared on Monday morning after Gilead Sciences GILD officially announced it would purchase the company for a substantial premium.
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